Cyber liability insurance, the best weapon for your company
Cyber liability insurance, the best weapon for your company. Increasingly, small businesses are looking to purchase cyber liability insurance to cope with the increase in cyber attacks.
For a long time, it was believed that hackers were only interested in large companies. However, reality has shown that these cybercriminals are increasingly betting on easy prey, with weak cybersecurity. They launch their ransomware -viruses- to take the data hostage and demand a ransom for it.
According to statistics, 55% of small businesses have been hacked, at least once, and 53% of them at different times.
With this background, in the country of multimillion-dollar lawsuits, it is logical that small businesses want to be more protected.
Business owners must ask themselves what data of their customers they store and where they store it, in order to equip themselves with the necessary technical protection measures, including cyber liability insurance.
Cyber insurance generally covers a company’s liability for the loss of confidential customer data, such as social security numbers, credit cards, bank account numbers, medical records, or driver’s licenses.
The danger that small businesses face may not only stem from their cyber relationship with customers, but also from online contacts with large service providers. Cyber liability insurance, the best weapon for your company.
If you have a small business with multiple employees who remotely access and handle sensitive customer data, you should contact Univista Insurance to purchase a cyber liability policy. The question to keep in mind is not whether you will have a seizure but when it will occur.